Cutting tool manufacturer in Daegu, Korea
TaeguTec Ltd. (Korean : 대구텍 Korea Tungsten Company multinational corporation headquartered inDaegu , Korea. TaeguTec group has 26 overseas subsidiaries, over 130 distributors and 30 agents in 50 countries across Europe, Asia, Australia, and theAmericas .
In addition to the initial 80 per cent stake purchased in 2006,Warren Buffett paid an additional US$2 billion for the remaining stake inIMC , of which TaeguTec was a part.[ 1] Berkshire Hathaway 's first and only wholly owned subsidiary in Korea. On October 25, 2007, Warren Buffett flew toDaegu to tour TaeguTec and to meet with the management.[ 2] inauguration ceremony and later met with Korean PresidentLee Myung-bak .
Apr. 1916: Outcrop of Sang-dong mine discovered inGangwon Province , South Korea Feb. 1947: Exported Scheelite to the U.S. for the first time Sep. 1952:Korea Tungsten Company (KTC) was established by theKorean government Export: US$16,457,000 (56% of Korean total) Employee: 4,287 May. 1959: Constructed chemical processing plant Jun. 1961: Established New York office Sep. 1961: Established R&D Center Nov. 1961: Established London office Feb. 1963: Established Tokyo office Nov. 1966: Won official commendation from government for exportRanked second among Korean companies Nov. 1967: Won official commendation from government for exportRanked third among Korean companies Feb. 1968:POSCO established as a joint venture between the Korean government and KTC (government 75%; KTC 25%) Nov. 1968: Won official commendation from government for export Nov. 1969: Won official commendation from government for export Nov. 1972: Constructed APT (Ammonium Para Tungstate) plant Feb. 1974: Constructed tungsten metal powder and tungsten carbide powder plant Nov. 1976: EstablishedRotterdam office Nov. 1977: Constructed cemented carbide plantProducts: Blank, carbide insert, mining tools, brazed tools Oct. 1978: Constructed coating plant (CVD-TiN production) Dec. 1979: Constructed tool holder plant Jan. 1981: Developed special coating substrate May 1983: Rotterdam office in the Netherlands moved to Germany Jul. 1985: Common R&D cooperation between Korea Tungsten and POSCO Oct. 1985: Developed CERMET inserts Nov. 1988: Constructed carbide roll plant Nov. 1989: Constructed tungsten wire plant Mar. 1991: Constructed ceramic plant Feb. 1994: Sang-dong tungsten mine closed Mar. 1994: Privatized and taken over by Keopyung Group May. 1995: Established tungsten wire plant in China Aug. 1998: KTC bought out byIscar Aug. 1998: Company name changed from Korea Tungsten Company toTaeguTec Ltd. Feb. 1999: Headquarters moved fromSeoul toTaegu Apr. 1999: Constructed new Marketing Center1999: Established TaeguTec USA (currently Ingersoll USA) 1999: Established TaeguTec Germany (currently Ingersoll GmbH) Mar. 2000: Established TaeguTec India inBangalore Mar. 2000: Established TaeguTec UK inLeeds Jul. 2000: Constructed new R&D Center Dec. 2000: Established TaeguTec China inShanghai Mar. 2001: Established TaeguTec Brazil inSão Paulo Jun. 2001: Established TaeguTec Scandinavia inCopenhagen , Denmark Jun. 2002: Established TaeguTec Italy inTurin &Milan Jun. 2004: Established TaeguTec Japan inNagoya Jun. 2004: Constructed new Tech Center and Carbide Rod factory Jun. 2005: Established TaeguTec Australia inSydney Oct. 2005: Established TaeguTec Turkey inIstanbul Mar. 2006: Established TaeguTec Slovakia inŽilina Apr. 2006: Established TaeguTec Malaysia inKuala Lumpur Jan. 2007: Established TaeguTec Thailand inBangkok Feb. 2007: Established TaeguTec Spain inBarcelona Mar. 2007: Established TaeguTec France inChamps-sur-Marne Jul. 2007: Established TaeguTec Indonesia inBekasi Nov. 2007: Established TaeguTec Poland inWrocław Apr. 2008: Established TaeguTec Russia inMoscow Apr. 2008: Established TaeguTec Ukraine inDnipropetrovsk Jun. 2009: Established TaeguTec South Africa inJohannesburg Sep. 2009: Established TaeguTec Czech inPlzeň Nov. 2009: Established TaeguTec Hungary inTörökbálint Nov. 2010: Established TaeguTec Argentina inBuenos Aires Apr. 2012: Opened TaeguTec Plant II May 2012: TaeguTec acquired the internationally recognized AEO certification from the World Customs Organization Dec. 2012: TaeguTec received “$300 million Export Tower” by the Korean government Jan. 2013: TaeguTec Recognized for Wellbeing of Workers by the Korean government Jan. 2013: 2012 Excellent Enterprises in Job Creation (MOEL) by the Korean government May 2013: Berkshire Hathaway acquired the remaining 20 percent of the IMC Group to become sole owner Mar. 2014: Established TaeguTec Taiwan in Kaohsiung
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